Exclusives

Senate passes 2018 budget, approves $51 oil price benchmark

by OWEDE AGBAJILEKE, Abuja

May 16, 2018 | 4:32 pm

After six months delay, the Senate on Wednesday passed the 2018 budget of N9.120 trillion. The appropriation bill, the largest in the nation’s history, is premised on key revenue assumptions of oil price benchmark of $51; crude oil production of 2.3 million barrels per day and exchange rate of N305/$1USD. The 2018 proposal by President…